NFTs are gaining a lot of traction as popular NFT artists are making millions with their blockchain-backed designs, music and collectibles. Even companies like Visa and TIMES are getting into the market, it’s completely crazy.
As the market is going to mainstream media, a lot of people are wondering where they can create and sell their own NFT.
The answer to that is: marketplaces, anyone who wants to buy or sell NFTs has to go to a marketplace.
The following article is a complete list of the top 8 marketplaces based on their sales volume where you can create your NFT.
What are the best NFT marketplaces?
What are the best platforms to launch NFTs?
Why are they the best?
What features do they have?
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The 8 most prominent NFT marketplaces to launch your collections:
OpenSea is the biggest marketplace of all and it’s undoubtedly eating the market. Here users can buy and sell digital art NFTs, domain names, land in virtual worlds, collectible trading cards, game items, and so on.
On Opensea you buy and sell with a system very similar to eBay: you can set a fixed price, let the price decrease over time, or set up an auction with an end date.
The most remarkable functionality of Opensea is that anyone who connects to the platform using Metamask or other wallets can create their own NFT without paying any gas fee thanks to a mechanism called “lazy minting“.
It consists in the fact that the NFT is minted once it is sold and not before. This is very interesting since it does not require an initial investment and opens the door for many people without large capital to enter the market.
- Commission: 2.5% (excluding gas)
- Royalties: Optional.
- Exclusivity: Open for everyone.
Volume during the last 30d: 22,43M.
SuperRare is an exclusive NFT platform whose name suits it very well, as it is quite exclusive and strict:
- Every artist on the platform has entered by invitation.
- Must not have tokens available anywhere else at the same time.
- All NFTs created must be unique, which means that there is only one edition.
The buying and selling system is similar to other marketplaces: “buy now” and auction, although the auction system offers more options than the other.
For applying you need to scroll to the bottom of their website and click “Submit Artist Profile” and if you are going to do it you should preparare some items before the application:
- Link to portfolio or website.
- Application video – 1-minute video sharing why you want to join.
- Link to work in google drive folder.
- Written story behind the art.
- Commissions: 3% minting fee + 15% marketplace fee.
- Royalties: 10% creator and 3% platform.
- Exclusivity: Application required.
NFT Collections
Volume during the last 30d: 19,61M
Rarible is pretty similar to OpenSea, but the big difference is that if you buy or sell NFTs here, you automatically earn RARI tokens.
The big disadvantage compared to OpenSea is that they don’t cover your mining costs, which can make a big difference when choosing a marketplace. However, this platform shares many similarities with the others: the system of buying and selling is through auctions and a “Buy it now” and also allows to confirm royalties freely.
- Commissions: Gas fees + 2.5% marketplace fee.
- Royalties: Optional.
- Exclusivity: Open.
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Volume during last 30d: 11,58M.
Like SuperRare, Foundation is exclusive and focuses most of its attention on NFT art. But here, rather than submitting an application, you must be invited by an existing Foundation creator.
Foundation is an NFT marketplace that relies on its community. Initially, all artworks sell through auctions and the platform doesn’t allow secondary sales.
Foundation is great for those artists who are just starting out in crypto-art and want to take it to the next level.
- Commissions: Gas fees + 15% marketplace fee.
- Royalties:10%.
- Exclusivity: Requires invite from existing creator or community vote.
NFT Collections
Volume during last 30d: ???
NiftyGateway, owned by the Winklevoss brothers, differs from other marketplaces in that buying NFTs (or ‘nifties’) is much more accessible to people outside the crypto world, as it can be done via credit card. In addition, you can choose whether to store it in your wallet or within your Nifty account.
It seems unbelievable, but everything good has something bad… Nifty Gateway seems to work by selling collections in “drops”, which simply mean they become available for only a limited amount of time and it is not so accessible when it comes to selling on the platform, since it is limited to artists and renowned brands.
If you are an artist, this marketplace would be more suitable for you to start acquiring (buy) NFTs, instead of launching your own.
- Commissions: 20% marketplace fee.
- Exclusivity: Application required.
- Royalties: Optional buy 5% plus 30 cents to NiftyGateway.
Volume during last 30d: 9,8M.
AtomicHub was launched in June 2020 and at the date of first writing this review, Atomic Hub claims that over 9.2 million NFTs have been created on the WAX Blockchain.
Curiosity fact: its native token, WAX, was recently listed on Binance and upon the news, the price increased by 350%.
Their website and UI seem a bit outdated but there could still be potential here. This marketplace lists all the Wax projects and allows everybody to create their own NFTs without paying any gas fees.
But it’s not all roses, the big barrier to entry is that being developed under the Wax network, your metamask is useless, you have to create a wax wallet.
- Commissions: 2% marketplace fee.
- Royalties: Optional.
- Exclusivity: Open.
NFT Collections
Volume during last 30d: 6,7M
hic et nunc (which means “here and now”) is the first NFT marketplace running on the Tezos blockchain. Founded by Rafael Lima and supported by a grant from The Tezos Foundation, hic et nunc has quickly become one of the most popular platforms in the Tezos ecosystem.
One thing that made a lot of users adopt it is that the Tezos Blockchain calls itself “environmentally friendly” because its carbon footprint is substantially lower than others.
If we want to talk about the audience of this marketplace, although we can find prestigious artists/collectors, it is more common to find small ones, so if you are starting this is a good place.
A special wallet is required to log in to the marketplace, after which anybody can upload their artworks as long as they have some XTZ tokens in their wallet but if you don’t have, there are faucets available that hand out XTZ for free. The minting process costs 0.08 XTZ or approximately $0.35 and all purchases obviously also require the native token for the Tezos blockchain.
Volume during last 30d: 1,66M
Created in late 2018, this platform used to have a lot of elite artwork that cost a lot of money but with the evolution of the market it is lagging behind.
What we can highlight the most, is that they don’t want ETH or MetaMask to be a barrier of entry, so they’ve also enabled credit card purchases via Stripe.
In order to enter you will need to fill out an application. Most of those who complete it do not get in, so you should consider the following:
- Links to websites, portfolios, social accounts, and individual works of art.
- Write about background/story/achievements.
- Identity verification instructions (about making sure your work is yours – not like KYC).
- Commissions: Gas fees + Credit card fees, 15% Platform Fee.
- Royalties: 10% to the creator, 2.5% to the platform.
- Exclusivity: Application required.
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Summary
This is just the beginning my friend!
These are the 8 best platforms, but they are not the only ones, and beware, not by choosing one or the other you will be successful.
The marketplace you choose is one of the most insignificant variants when it comes to success in this market.
It is more important to define your strategy, your idea, your proposal for the market, define why people should buy your NFTs. Ideas on how are you going to effectively market your NFT project and onto which marketplaces which best serve your project’s needs.
